Business Studies Test

Result

Business Studies Test - 20

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Weekly Quiz Competition

Question 1
5 / -1

Which of the following does not characterise the business environment?

A
Uncertainty

B
Employees

C
Relativity

D
Complexity

Solution

Business environment is a relative concept as it differs from country to country and region to region, e.g. Demand for sarees is quite high in India but in foreign countries, it has no existence.
Question 2
5 / -1

‘Yo Tummy’ began its business by offering the classic combo of hamburgers and fries. But over time, their customers wanted healthier foods, so ‘Yo Tummy’ responded and began offering healthy alternatives such as salads, fruits, wraps and oat meal. If ‘Yo Tummy’ hadn’t responded, they may have lost customers that wanted to eat healthier foods. The above case highlights one of the points related to the importance of business environment and its understanding by managers. Identify it.

A
It helps in coping with rapid changes.

B
It helps in improving performance.

C
It helps thefirm to identify threats and early warning signals.

D
It enables the firm to identify opportunities and getting the first mover advantage.

Solution

Money supply is the part of economic environment. Consumer protection act is the part of legal environment and Constitution of the country is the part of political environment.
Question 3
5 / -1

Threats refer to the internal environment trends and changes that will hinder a firm’s performance.

A
True

B
False

C
Can't say

D
Partially false

Solution

Threats refer to the external environment trends and changes that will hinder a firm’s performance.
Question 4
5 / -1

The Rajasthan government has developed surveillance network using latest satellite technology. Under this system, the state’s mining department would be in a position to check illegal mining activities across the state. The state government is also considering the use of drones in its proposed campaign against illegal mining. Identify the related dimensions of business environment.

A
Economic dimension and Legal dimension

B
Social dimension and Economic dimension

C
Technological dimension and Political dimension

D
Political dimension and Economic dimension

Solution

The development of a surveillance network using the latest satellite technology and the proposed use of drones to monitor illegal mining activities are examples of the technological dimension of the business environment. The technological dimension refers to the ways in which technological advancements impact businesses and their operations.

The involvement of the Rajasthan government in implementing this surveillance network and using drones to combat illegal mining activities is an example of the political dimension of the business environment. The political dimension refers to the ways in which government policies, regulations, and actions impact businesses and their operations.

Therefore, the related dimensions of the business environment in this scenario are the technological dimension and the political dimension.
Question 5
5 / -1

There are two statements marked as Assertion (A) and Reason (R). Read the statements and choose the appropriate option from the options given below.

Assertion (A): Demand for sarees may be fairly high in India whereas it may be almost non-existent in France.

Reason (R): Business environment consists of numerous inter-related and dynamic conditions of forces which arise from different sources.

A
Both Assertion (A) and Reason (R) are true and Reason(R)isthe correct explanation of Assertion (A)

B
Both Assertion (A) and Reason (R)are true but Reason (R) is not the correct explanation of Assertion (A)

C
Assertion (A) is true but Reason (R) is false

D
Assertion (A ) is false but Reason (R) is true

Solution

Business environment is a relative concept as it differs from country to country.
Question 6
5 / -1

“Trends refer to changes and inclination towards new products and services”. This statement describes significant effect of which environment on business?

A
Economic environment

B
Social environment

C
Political environment

D
None of the above

Solution

New trends in society lead to inclination of people towards new products and services. For example, increasing trends of physical fitness in the society has increased demand for gyms, diet supplements, mineral water, etc.
Question 7
5 / -1

Planning gives direction, reduces the impact of change, minimises waste and redundancy and

A
establishes chaos among departments

B
sets the basis used for promotion of individuals within the organisation

C
planning guarantees safeguard from external environment

D
sets the standards used in controlling

Solution

By stating in advance how work is to be done in future, planning provides direction for action. It clearly defines what the employees have to do, when to do, how to do and for whom to do.
Question 8
5 / -1

“All other managerial functions are performed within the framework of the plans drawn. Thus, it can be said that planning preceeds other functions.” This statement describes which function of planning?

A
Planning focuses on achieving objectives

B
Planning is pervasive

C
Primacy of planning

D
Planning is futuristic

Solution

Planning lays down foundation for all other functions of management. First plans are formulated, then action is taken.
Question 9
5 / -1

The last step in the process of planning is “Plan Implementation.”

A
True

B
False

C
Can't say

D
Partially true

Solution

Follow -up action is the last step.
Question 10
5 / -1

“An innovative course may be adopted by involving more people and sharing their ideas.” Identify the step of planning function of management highlighted above.

A
Setting Objectives

B
Developing Premises

C
Identifying alternative courses of action

D
Evaluating alternative courses

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Re-Attempt Weekly Quiz Competition

Business Studies Test - 20

Result

Business Studies Test - 20

Score

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Rank

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SHARING IS CARING

Question 1

Uncertainty

Employees

Relativity

Complexity

Solution

Question 2

It helps in coping with rapid changes.

It helps in improving performance.

It helps thefirm to identify threats and early warning signals.

It enables the firm to identify opportunities and getting the first mover advantage.

Solution

Question 3

True

False

Can't say

Partially false

Solution

Question 4

Economic dimension and Legal dimension

Social dimension and Economic dimension

Technological dimension and Political dimension

Political dimension and Economic dimension

Solution

Question 5

Both Assertion (A) and Reason (R) are true and Reason(R)isthe correct explanation of Assertion (A)

Both Assertion (A) and Reason (R)are true but Reason (R) is not the correct explanation of Assertion (A)

Assertion (A) is true but Reason (R) is false

Assertion (A ) is false but Reason (R) is true

Solution

Question 6

Economic environment

Social environment

Political environment

None of the above

Solution

Question 7

establishes chaos among departments

sets the basis used for promotion of individuals within the organisation

planning guarantees safeguard from external environment

sets the standards used in controlling

Solution

Question 8

Planning focuses on achieving objectives

Planning is pervasive

Primacy of planning

Planning is futuristic

Solution

Question 9

True

False

Can't say

Partially true

Solution

Question 10

Setting Objectives

Developing Premises

Identifying alternative courses of action

Evaluating alternative courses

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